Cash without a card
Some banks let you withdraw money at an Automatic Teller Machine
(ATM) without a card. You may also be able to pay for goods and
services with your phone.
This new technology can be easy and convenient but it pays to
know it works.
Getting cash from an ATM without a
To withdraw money this way you usually need to log in to your
banking app on your smartphone and select the option to receive a
cash code. You then receive a unique code by text message, and may
also receive a Personal Identification Number (PIN) by separate
text message if required by your bank. Then, you simply find an
appropriate ATM and use the code(s) to collect your cash.
Protect your temporary codes with the same diligence you would
for your standard PIN.
You only have a short period of time to get to an ATM before the
code expires. The code will also expire as soon as you withdraw
If you don't have a banking app you may be able to use this
system by calling your bank and identifying yourself. You can also
use it to give cash to someone else such as a family member or
close friend, by giving them the code(s).
Tap your phone to pay
This method of payment uses similar technology to that used in
cards, allowing you to tap your phone instead of your card. It
works for smartphones that have a computer chip, called a Near
Fields Communication (NFC) chip, embedded in them, allowing them to
work in the same way contactless cards do.
Ask your bank to explain if you're not sure how new technology
If you don't have a phone with an NFC chip, your bank may be
able to provide you with a tag to stick on your phone that performs
the same function. They may charge you a small fee for the tag.
Pay to a mobile phone
Some banks let you pay someone using only their mobile phone
number. When you send a payment to someone they receive a text
message that includes a code and instructions on how to retrieve
The recipient needs to follow the instructions, enter their
account details and the funds will then be deposited into their
It is also possible to send payment to an email address or
Facebook contact in the same way. When making payments this way
always check the recipient's details carefully and ask your bank if
you're unsure how to make a transaction.
Technology is changing at a rapid pace. You can
make payments and manage your money on the go, with just a
smartphone. Make sure you understand exactly how it works before
enjoying the freedom this technology gives you.
Last updated: 06 Oct 2017